Inox to acquire Satyam Cineplexes for Rs. 182 crore.

Multiplex chain Inox Leisure Ltd. is set to acquire Delhi-based Satyam Cineplexes. The company said it had executed transaction documents to acquire 100 per cent of the equity share capital of Satyam from its existing shareholders for a consideration of Rs. 182 crore, subject to closing.

The company said this deal would give it a significant foothold in the North Indian region. With this acquisition, Inox will expand its presence to 50 cities with 91 multiplexes and 358 screens. This is the company's third acquisition in seven years, after it acquired Fame India in 2010 and Calcutta Cine Pvt Ltd. in 2007.

Satyam Cineplexes has a total of 38 screens now in Amritsar, Mysore, Rohtak, Aurangabad, Jodhpur, Indore and New Delhi and another 30 are in the pipeline in six cities.


HBL